Allowed

Hdfc Bank v. Afzal Pasha

DRT4 Aug 2022OA/20/2022

Case brief

AI extract

What is this about?

The DR Tribunal allowed an Originating Application filed by HDFC Bank against a defaulting borrower. The court, accepting the bank's evidence and noting the defendant's absence, ordered recovery of the principal amount along with interest and costs, and authorized the sale of hypothecated assets.

What did the court decide?

Recovery of Rs. 24,71,395/- with interest and costs; liberty to sell hypothecated property; recovery certificate to be issued.

Hdfc Bank versus Afzal Pasha — Banking and Recovery | DRT (2022)

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IN THE DEBTS RECOVERY TRIBUNAL - I, KARNATAKA AT BENGALURU

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Dated this the 4n day of Augost,2022

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Present: Sri IMTIAZ ALI

Presiding Officer

oA20/2022

BETWEEN:

HDFC BANK LTD., OH Airport Road Kodihalli

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Bangabre-560 017

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(Represented by iB Manager and Authorized Representative Sri Niranjan B)

.. APPLICANT

AND:

Sri Aftal Pasha

S/o. Sri Nazeer Pasha

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Aged about 50 years No.565/35-36, 2nd Cross

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1s Main, Doddanna Layout Bangalore-560 051

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Also at:

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Afzal Pasha

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Ammara Tours International 36, Ground Floor, 1't Main

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2d Cross, Venkateshpuram Doddanna Layout Bangalore-560 051

And also at:

Afzal Pasha

No.53/A, 1st Main, znd Cross Doddanna Layout Venkateshpuram Bangalore-560 045

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.. DEFENDANT

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oA.No.2O/2022

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Counsel on record/appeared for: Applicant : S.A Associates Defendant i Ex-parte

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FINAL ORDER

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The present 0A has been fibd by the Applicant Bank under Section 19 of the Recovery of Debs and Bankruptry Act, L993, seeking recovery of money of Rs.24,17,396/fRupees^{Twenty Four Lakh ElevenThousandThree Hundred} Ninety Six only) together with cosb, interest, etc.

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The case of the Applicant Bank is that the Defendant had approached the Applicant Bank for grant of Used Car Refinance Loan, Business Loan and GECL Loan. The Applicant Bank considered the request and sanctioned Used Car Refinance Loan of Rs.3,38,987 /- on22.17.2078, Business Loan of Rs.23,00,000/- on 23.04.2079 and GECL Loan under the Scheme Working Capital Term Loan intoduced by Government of India of Rs.3,65,258/- on 17.09.2020, in terms of the ban agreemenb. In order to secure the loans, the Defendant has executed documenB, viz., Supplemental Agreement for Vehicle Loan cum Hypothecation and Guarantee, Terms and Conditions Applicable to Business Loan, Loan Cum

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OA.No.2012022

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Hypothecation Agreement etc.

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Furtheg the Defendant has agreed to repay the above loans with variabb rate of interest, as applicable from time to time as per the directions of the Head Office / Central 0ffice of the Applicant Bank and penal interest in case of default and keep the accounts regular by paying installmenB as and when due to the satisfaction of the Applicant Bank, as deailed in the OA by the Applicant Bank.

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The Defendant after utilising the said bans has failed and negbcted to make the repayment of the loans due as agreed and Defendant has not serviced the interest thereon as per the terms and condition agreed by the Defendant. ln view of the continued default, the loan accounb were classified as Non-Performing Asset. The Applicant Bank has sent Legal Notice on 20.L7.2027 to the Defendant. In spite of receipt of Legal Notice, the Defendant has failed to pay the oubtanding dues and hence the recovery process is initiated to recover the dues.

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In the light of these factors, it is contended by the Applicant Bank that Defendant is liabb to pay a total sum of

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OA.No.20l2022

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Rs.24,7L,395l- (Rupees Twenty Four Lakh Ebven Thousand

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Three Hundred Ninety Six onlyJ.

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After filing this OA, Summons were sent and served to the Defendant through RPAD. When Defendant was calbd out,

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Defendant remained absent and placed as ex parte.

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To prove the case of the Applicant Bank its Manager, Sri Niranjan B, has filed his affidavit by way of evidence and same was considered as evidence of AW.1 and marked at Ex.A1 and

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List of Documents came to be marked at Ex.A2 and 11

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documents came to be marked at Ex.A3 to 13.

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No evidence on behalfofthe Defendant.

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ArgumenE of Learned Counsel for the Plaintiff /

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Applicant Bank heard and perused the records of the case.

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Folbwing points arise for my consideration:

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1. Whether Plaintiff / Applicant Bank proves iB case as contended in the plaint / application?

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1. What Order?

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For the folbwing reasons, I answer the above-referred points in the following manner:

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OA.No .2O12022

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REASONS

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The Manager of the Applicant Bank came to be examined as AW.1. His affidavit by way of evidence reiterated the facts pleaded in the plaint and his affidavit is also corroborated by the above-referred Ex.A3 to A13 which clearly establish the case of the Applicant Bank to allow the present 0A. Added to this, the Defendant has remained absent, hence it is to be construed that Defendant has admitted the entire case pleaded by the Applicant Bank in the present OA.

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Therefore, for these reasons, present OA is to be allowed with costs as sought by the Applicant Bank.

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ORDER

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Present OA stands allowed as prayed for with interest and costs.

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In the event of failure of the Defendants to pay the said 0A amount the Applicant Bank is at liberty to sell the (Hypothecated) Schedule property in accordance with law as sought by the Applicant Bank in the 0A.

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In spite of sale of the (Hypothecated) schedule property, if the OA amount is not fully realised, then the Applicant Bank

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oA.No.20l2022

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is at liberty to proceed against the person and other property

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of the Defendants in accordance with law.

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Applicant Bank shall file latest Memo of Calculation of OA amount together with interest, costs etc., to be paid by Defendant duly taking into account the amount/s, if any, paid by the Defendant and/or amount realised by sale ofassets, etc., during the intervening period after filing the 0A, to enable the office to prepare Recovery Certiflcate for the amount to be paid by the Defendant to the Applicant Bank.

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Office is directed to issue Recovery Certificate as sought by the Applicant Bank in the OA and do the needful as required under the law forthwith.

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The Office is directed to issue, as far as possible, free

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copy of this order to the parties concerned.

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[Dictated^{to the Stenographer, afterits transcriptionand necessarycorrections, signed} and pronounced by me in the Open Court on this the 4th day ofAugust, 2022)

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\ (rMriAzALD PRESIDING OFFICER DRT-I, Bengaluru

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OA.No.2012022

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ANNEXURES

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Witness Examined for the Apolicant Bank: AW-1 : Sri Niranjan B Manager of Applicant Bank List of Documents Exhibited for the Apolicant Bank: Ex.A-1 : Affidavit of,AW-1 Ex.A-2 : List of Documents Ex.A-3 to A-13 : 11 documents Witness Examined for the Defendant:

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Nil-

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List of Documents Exhibited for the Defendant:

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Nit\u^*" (rMTrArArD PRESIDING OFFICER DRT-I, Bengaluru

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Hdfc Bank v. Afzal Pasha

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Afzal Pasha

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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